Brazilian digital bank Nubank announced that it has surpassed 100 million clients in Brazil, Mexico and Colombia, becoming the first non-Asian digital banking platform to achieve this milestone.
“In 2013, we set the goal of reaching one million clients in five years, which seemed nearly impossible at that time. In a decade, we’ve surpassed 100 million, showcasing the strength of our user-centric business model,” said David Vélez, Co-founder and CEO of Nubank.
Nubank launched in 2013 a fee-free credit card as its first product, going against the fintech trend of starting with savings products. Within two years, Nubank surpassed one million clients in Brazil. In 2019, the digital bank expanded its operations to Mexico and Colombia.
Today, Nubank’s offerings have expanded to include a debit card, marketplace, insurance offerings, and more.
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